Asian Fund Managers Cut
Portfolios' Cash Holdings

Asian fund managers are starting to put their cash back to work -- but lingering fears mean this isn't likely to translate into an immediate lift for regional markets.

As Asian currencies and markets plunged last year, many local money managers sold stock and sought a safe haven in cash. According to Merrill Lynch, which conducts a survey of Asia-based fund managers every month, the average cash level in an Asian portfolio was 9% in...